Charles County, Maryland
Charles County last year continued to attract families in search of relatively inexpensive housing, which translated into more home sales and higher prices.
Median home prices in the county rose 11 percent, to $329,900 from $298,000 the previous year, according to a Washington Post analysis based on state sales records for single-family houses and townhouses. Condominium sales are not included. There were 3,016 sales, up 4 percent from 2005.
The higher prices don't tell the whole story, though, said Andie Cobb, office manager for Long & Foster in Waldorf. She said that despite those gains, real estate in Charles has switched to a buyer's market.
Sellers "may be getting full price but paying a significant amount of closing help for their buyers." The sales records used in the Post's analysis do not reflect such concessions.
The county's most popular Zip codes remain those around Waldorf -- 20601, 20602 and 20603. Those areas accounted for more than half of the houses sold in Charles last year. In 20601, the median sales price rose 12 percent, to $325,000; in 20602, it rose 15 percent, to $299,900; and in 20603, it rose 11 percent, to $355,000.
Extremes tended to be in places with not many sales -- common for an analysis of areas as small and varied as Zip codes. The county's most expensive Zip code in 2006 was 20632, sparsely populated Faulkner. Just four homes sold there, but the median price was $533,941, a 26 percent gain over 2005.
Last year's most expensive Zip code -- 20677, which includes the historic old town of Port Tobacco -- gained only 1 percent. Twenty-two homes sold for a median of $494,500.
Several Zip codes saw sharp declines, but they were also in areas with few sales. Prices in Zip code 20625, which includes Cobb Island, fell 20 percent. Twenty homes sold in that Zip code, the county's least expensive, for a median price of $217,500.
Michael James, team leader for Keller Williams in Waldorf, said government workers and families are still moving to Charles County in search of affordable housing. "They'll put up with a commute to get out of the hustle and bustle."
-- Mary Ellen Slayter, Washington Post Staff Writer
Median home prices in the county rose 11 percent, to $329,900 from $298,000 the previous year, according to a Washington Post analysis based on state sales records for single-family houses and townhouses. Condominium sales are not included. There were 3,016 sales, up 4 percent from 2005.
Sellers "may be getting full price but paying a significant amount of closing help for their buyers." The sales records used in the Post's analysis do not reflect such concessions.
The county's most popular Zip codes remain those around Waldorf -- 20601, 20602 and 20603. Those areas accounted for more than half of the houses sold in Charles last year. In 20601, the median sales price rose 12 percent, to $325,000; in 20602, it rose 15 percent, to $299,900; and in 20603, it rose 11 percent, to $355,000.
Extremes tended to be in places with not many sales -- common for an analysis of areas as small and varied as Zip codes. The county's most expensive Zip code in 2006 was 20632, sparsely populated Faulkner. Just four homes sold there, but the median price was $533,941, a 26 percent gain over 2005.
Last year's most expensive Zip code -- 20677, which includes the historic old town of Port Tobacco -- gained only 1 percent. Twenty-two homes sold for a median of $494,500.
Several Zip codes saw sharp declines, but they were also in areas with few sales. Prices in Zip code 20625, which includes Cobb Island, fell 20 percent. Twenty homes sold in that Zip code, the county's least expensive, for a median price of $217,500.
Michael James, team leader for Keller Williams in Waldorf, said government workers and families are still moving to Charles County in search of affordable housing. "They'll put up with a commute to get out of the hustle and bustle."
-- Mary Ellen Slayter, Washington Post Staff Writer
Housing Outlook 2007
The latest on the state of the Washington, D.C., residential real estate market.
How Much For That House?
What can you afford in today's market? We scan properties for sale in and around D.C.
SOURCE: Full-value transactions as reported by the state
MAP: Dan Keating and Nathaniel Vaughn Kelso - The Washington Post
© 2007 The Washington Post Company
